Any update on Unitech Capella Greater Noida Projects Refunds?

[pns]

Any update on Unitech Capella Greater Noida Projects Refunds? I am
ready to take an action to get my money back.

Thanks.

[Rohit Kumar]

I am facing similar ISSUE. Please include me in this

Rohit.

--

The alchemic belief : “When you seek out your own personal legend the universe conspires to help you along the way"

[pns]

I am planning to take action now. A collective action would be a
better idea. We could file a PIL against Unitech.

On Jul 12, 3:37 pm, Rohit Kumar <replyro...@gmail.com> wrote:
> I am facing similar ISSUE. Please include me in this
>
> Rohit.
>

[Rohit Kumar]

Folks, I chekced with HDFC Bank person, here is what he told me..


- find the clip from the newspaper where Builder issued Notice for Cancellation of he Project
-Please read the contract that you signed at the time of Booking Flat. There might me a point which might make our case week. So lets read our contracts
-We can hire Lawyer- explore legal options
-Then asa group we file case

Please feel free to add if i missed anything

Rohit

[nishith srivastava]

Dear Rohit,

 

I recommend not to condone HDFC.

 

If I understand the process right, a loan is granted on 2 premises

• Evaluation of your own credit worthiness
• Evaluation of the developer and project

Therefore, if at all your loan is disbursed from HDFC its only because HDFC would have internally approved the developer and project. As the project is not coming up now or in other words indefinitely delayed, HDFC cannot just wash its hands off and throw the onus on you to settle your issues with the developer. Their loan is secured by a property collateral. If the collateral does not exist or is not in the process of being created, they cannot come back at you as strongly as in any other regular instance (for example - a default wherein the property(collateral) exists and can be liquidated by a bank to recover its dues).

 

Therefore, you must touch base with a senior HDFC employee and apprise them the loan repayment is under threat as the developer which they have approved has not come good on their promise. Remember, a bank dealing with developers is more likely to co-erce a developer into settlement. If the developer ignores then he runs the peril of being blacklisted by a bank and the word spreads and so does his source of funds (credits) for any future or current projects.

 

Let me know what you think.

 

Regards,

 

Nishith

 

I hope this helps 

[Rohit Kumar]

Nishith, I was refering to ICICI Bank (HDFC was bymistake)

 

So folks here are the update

1. ICICI bank Noida Branch told me that they will not help me in getting money from the builder.
2. to get refund of the my Money. i have to go to Court
3. Before going to court I have to send letter thru registerd post to ICICI bank and UNITECH, and then two more reminder letters
4. Then File for the Case in Court.

Rohit

[Rohit Kumar]

also Please read about two Win in the court (taken from economic Times)

National Consumer Commission
1. Buyer is entitled to opt out of a project if there is a delay in delivery.
A buyer is entitled to opt out of a housing project if there is delay in delivery of possession of the house by the real estate developers, the commission has held. It
has also said that the buyer is entitled to a refund of the entire money with reasonable interest and any deduction on the said amount is unjustified. The
commission passed the order on a petition of an Agra resident, Indira Gupta, seeking the quashing of UP State Commission's direction to deduct 20% from the
amount to be refunded to the complainant.

 

3. A buyer is not constrained by the agreement for a court of his choice.
In the Neha Singhal vs Unitech case (first appeal no 426 of 2010), the commission has held: "To emphasise, the clause relating to jurisdiction of 'courts' in the
agreement between the parties cannot by itself over-ride the statutory right of the appellant/ complainant conferred by the above-mentioned provision of the Act.
That would defeat the purpose and object of the Act. This view is also in accordance with the provisions of Section 28 of the Indian Contract Act, 1872 (as
amended with effect from 8th January 1997).